Over the last week Wall Street has been hit with financial news covering everything from Lehman’s bankruptcy to American International Group‘s bailout and the SEC’s ban of short selling in 799 financial stocks.
While the effects have been wide spread one new bullish trend has re-emerged as the dollar’s ego has once again been hit hard. As investors retreat from the dollar they look to two key areas for safety, hard assets such as gold and silver and oil.
Gold is now trading back at nearly $900 and Oil today had a one day record price jump closing at $120.92.
How long this new trend sticks around for is any investor’s guess, but we will cover it for readers until the bitter end. Here are five great ETFs that have made a run since the beginning of last week:
1. Spider Gold Trust (NYSE:GLD). This exchange traded fund tracking the price of the Gold bullion has surged from $75.55 to a close today of $89.35 in just six trading days.
2. Ishares Silver Trust (AMEX:SLV). The exchange traded fund tracking silver has jumped over 30% since last Monday.
3. Market Vectors Gold Miners ETF (AMEX:GDX). A great play on gold mining stocks GDX has soared over 25% since the beginning of last week, closing today at $38.09.
4. United States Oil Fund (AMEX:USO). Tracking the spot price of west texas light sweet crude USO today had a 6% price jump closing at $87.60 after trading as low as $72.95 last week.
5. Powershares DB Commodities Index Tracking Fund (AMEX:DBC). A great play on commodities as a whole this ETF is up over 15% since bottoming last week at $31.70.